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原文連結
論文資訊
- 類型：已發表論文
- 日期：2019-07-21
摘要
We analyze a continuous time game of Bertrand competition with private monitoring that includes asynchronous signals and asynchronous actions. Unlike existing models where firms observe a signal that is imperfectly correlated with demand parameters and firms' prices, we assume firms observe demand and prices perfectly but at times governed by independent Poisson processes. The signals only reveal 資訊 at the instant they are observed and do not contain 資訊 about past actions or states of demand. This implies that any firm's price change will go undetected for some time or may never be detected. Firms are also allowed to engage in costless but unverifiable cheap talk. The model focuses on the strategic considerations that arise when firms reason about then timing of the signals rather than the
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